AMARC RESOURCE LTD - AXREF STOCK NEWS

Amarc Resources announced the commencement of extensive core drilling at its 100%-owned JOY Copper-Gold District in British Columbia. Partnered with Freeport-McMoRan, this fully-funded program aims to discover porphyry Cu-Au deposits across eight large drill-ready sulphide mineralized systems. Focused on the PINE, Canyon, Twins, and SWT Targets, the program includes testing new and existing mineralized zones, such as NWG and the MEX Trend. Previous drilling has shown promising results with notable Cu, Au, and Ag concentrations. The program is a culmination of two years of geological, geophysical, and geochemical studies, designed to uncover significant mineral deposits.

Amarc Resources has resumed drilling at its DUKE porphyry copper-gold district in British Columbia. The summer focus is on the SVEA Deposit Target and the JO porphyry Cu-Au discovery. Initial results from historical drill holes and recent surveys show promising potential for substantial Cu-Au mineralization.

During the 2024 winter, nine drill holes totaling 4,828.2 meters were completed at the DUKE Deposit. Seven of these intersected significant Cu-Mo mineralization. Notable results include:

• 71m of 0.45% CuEQ in hole DK24033
• 110m of 0.38% CuEQ in hole DK24034
• 203m of 0.28% CuEQ in hole DK24035
• 48m of 0.34% CuEQ in hole DK24036
• 208m of 0.26% CuEQ in hole DK24037

Boliden Mineral Canada is continuing its earn-in agreement with a $10 million budget for 2024.

Amarc Resources announces its executive team's participation in two conferences in May 2024. The company will be presenting at the Metals Investor Forum Vancouver on May 10-11 and attending the 121 Mining Investment London Conference on May 15-16. Dr. Diane Nicolson, President & CEO, will lead the presentations and meetings at both events, showcasing Amarc's extensive Cu-Au Districts in British Columbia with funding secured for exploration drilling in 2024.

Amarc Resources is set to begin an extensive 2024 drilling program at its JOY Copper-Gold District in British Columbia funded by Freeport-McMoRan. The program aims to discover porphyry Cu-Au deposits and build upon previous geological surveys. The NWG Copper-Gold Porphyry Target, a new exciting prospect, shows strong scientific evidence for a potential porphyry system with multiple mineral anomalies. The drilling program is scheduled to begin in June, focusing on various mineral systems across the JOY District.

Amarc Resources introduces the JO porphyry copper-gold discovery in the Duke District, highlighting multiple new drill-ready targets discovered in central British Columbia. The success of the 2023 exploration program led to the identification of new porphyry Cu-Au centers. Boliden Mineral Canada funded $10 million in exploration expenditures in 2023 and will continue in 2024 with an additional $10 million. The 2023 field program employed various surveys to identify porphyry Cu-Au deposit targets. The JO Target discovery, located near the SVEA and DUKE deposits, shows promising attributes for potential mineralization. A reconnaissance drilling program is planned for the 2024 summer season.

Amarc Resources grants 6.4 million incentive stock options at $0.105 per share, with 5.5 million going to insiders. The options are for periods of three to five years and subject to TSX Venture Exchange approval.

Amarc Resources Ltd. appoints Paul Johnston, PhD, P.Geo., as the new Vice President of Exploration, replacing Dr. Roy Greig. Johnston's extensive experience in leading technical teams and managing exploration projects will be pivotal as Amarc advances drilling programs across its copper-gold districts in 2024. Johnston's background includes working in porphyry copper environments in Peru and Chile, and his previous roles at Teck Resources and Element 29 Resources Inc. showcase his expertise in exploration and project development. Amarc expresses gratitude to Roy Greig for his contributions and looks forward to his continued consultancy.

Amarc Resources Ltd. announces executive team participation at three conferences in March 2024, including the Metal Investors Forum Toronto. Dr. Diane Nicolson, President & CEO, will present a corporate presentation on March 1.

Amarc Resources Ltd. announces the commencement of an extensive 2024 drill program at its 100% owned DUKE Copper-Gold district in central British Columbia. The $10 million program will be funded by Boliden, with Amarc as the project operator. The DUKE District is hosted in the Babine Porphyry Cu-Au Region, with potential for discovery of new large porphyry Cu deposits. The 2022-2023 drilling successfully expanded the DUKE Deposit porphyry Cu-Mo-Ag-Au system, and encouraging intercepts suggest additional discovery potential. Amarc has entered into a Mineral Property Earn-In Agreement with Boliden, giving Boliden an option to earn up to a 70% interest in the DUKE District by funding exploration and development expenditures.